Everyone is talking about how to save money every month, which is a good thing. But check this article out by CNBC. These are the items that hurt America more than it helps. This article goes on to say, how savings is great, but not to help the economy!
In last week’s Wall Street Journal, there was an article called, “Star-Spangled Bargains: Americans are natural shoppers and this holiday season they need to do their patriotic duty and rid the nation of recessions.”
You see the problem here?
There was a great article on creditcards.com this month: “Frugality: Just a fad? Or will consumers keep saving post-recession?”
If you saved that $4 that went into Starbucks’ pocket every day, you would have an extra $7,200 in five years, not to mention interest. Would you be sad about all those lost lattes? I doubt it, but I can say for sure that you would be thrilled to have a cushion during these hard times.
Here’s an idea: Don’t think about saving a $1 here or there. Think about the fact that every $1 you save today, will be worth $2 in five years. Why? Since you have already paid tax on this income, this goes right into savings – that gives you a 40% ROI on that money – right now!
How about your $50 gym membership? Would it hurt you to exercise outside during the summer months? That’s an extra $300 a year.
Rich people become rich by being frugal. If we want to protect ourselves from the next recession, let’s adopt frugality as a lifestyle change.
How about this as a New Year’s resolution? Cut one expense a month. Start by canceling that magazine that never gets read. Who knows? Maybe by year’s end, frugality will be running through your veins and you might not be thinking how to save money each month!
I love your news. Down to earth and so far you are absolutely right. Urgent care- absolutely, it is just a little bit less than ER. I was always wondering why, we , the homeowners pay, are obligated to pay a property tax, for something we do not owe. Shouldn’t it be , that a lender, pays property tax, for the period of time when we are repaying the mortgage. We do not own the house until is fully paid. Since we pay more than double, of what we have borrowed, over the the live of a loan, the lender, makes enough money, and being the legal owner of property, he should be paying that tax. Great job, you are doing, by educating us. Thanks.
Thank you for your kind comment Margaret.